Benefits for owner-customers as policyholders

As an owner-customer of the OP cooperative bank, you are entitled to substantial discounts on your policies and many other benefits.

Discounts and benefits on insurance policies

When you are an OP cooperative bank owner-customer and a Pohjola Insurance prime customer, you receive the best benefits:

  • 10% off home and other property insurance, personal insurance, voluntary motor insurance or comprehensive motor vehicle insurance, and continuous travel insurance
  • As an insurance customer of 18 to 27 years of age, you get a 24% discount on almost all insurance policies for home and family.

To become a prime customer, you need to have insurance policies from any three of the following categories:

  1. Motor liability insurances: Statutory motor liability insurance
  2. Comprehensive motor vehicle insurances: Voluntary motor insurances
  3. Personal insurances: Health insurance for adults, children or unborn children, and disability and living allowance insurances
  4. Continuous travel insurances: Continuous traveller’s insurance and luggage insurance
  5. Property insurances: Home insurance, valuables insurance, animal insurance, boat insurance, forest insurance

Note that after insuring your vehicle with motor liability insurance and comprehensive motor vehicle insurance, you already hold insurance policies from two different categories. In addition, if you are our owner-customer and over the age of 70, you are entitled to discounts already when you hold policies from two different categories.

As an owner-customer, you also get the following benefits regardless of your number of policies:

  • Your OP bonuses will be used to pay insurance premiums.
  • Deductible of up to 250 euros in certain losses or damage covered by MyHome insurance.
  • Free 40% increase in the sum insured under life insurance.
  • Free Product Protection Insurance for purchases made using OP credit card

Other benefits

Regardless of your number of policies or type of customer relationship, you always get the following benefits.

  • A 2.5% discount in case you pay your insurance bill in one instalment.
  • A free-of-charge NewLife insurance for the parents of children under the age of 1.
  • A permanent discount of 5% on a life policy bought online.
  • Separately purchased continuous travel insurance valid until you reach the age of 100.

For more information on benefits, see the bottom of the page.

The insurance discounts are determined on the basis of your customer relationship and the total number of your policies. When you have policies from three different categories, you get a 7% discount on

  • home and other property insurance,
  • personal insurance,
  • continuous travel insurance and
  • voluntary motor insurance, in other words comprehensive motor vehicle insurance.

As an owner-customer, you will get a further 3% off most insurance policies for a total discount of about 10%.

The insurance categories are:

  1. Motor liability insurances: Statutory motor liability insurance
  2. Comprehensive motor vehicle insurances: Voluntary motor insurances
  3. Personal insurances: Health insurance for adults, children or unborn children, and disability and living allowance insurances
  4. Continuous travel insurances: Continuous traveller’s insurance and luggage insurance
  5. Property insurances: Home insurance, valuables insurance, animal insurance, boat insurance, forest insurance


As an insurance customer of 18 to 27 years of age, you get a 21% discount on almost all insurance policies for home and family.

If you are an owner-customer aged 70 or above, you are entitled to discounts on only two policies, such as home and health insurance.

NewLife is a life insurance of 20,000 euros for parents of children under 12 months in the event of the parent’s death. This gives the surviving parent a better chance to carry on or to provide for the child’s education, for example.

We offer NewLife insurance to both parents separately for the next 12 months of the child’s life for free. After this, the insurance will continue automatically subject to a premium.

You can take out the policy soon after the baby is born until the child turns 1 year. The policy does not require completing a health declaration form. The insurance is issued by OP Life Assurance Company Ltd.

As an owner-customer, you get a free 40% increase in the sum insured under life insurance. The rate of the increase will be confirmed every year and is valid for one year at a time.

Life insurance will help your loved ones financially if you die due to illness or injury. When determining compensation, we will pay your beneficiaries compensation with a 40% increase. For example, if the benefit to be paid under life insurance is 20,000 euros, we will pay your beneficiaries 28,000 euros. You can take out life insurance either as single or joint cover with your loved one. The insurance is issued by OP Life Assurance Company Ltd.

As an OP cooperative bank owner-customer, you get a deductible benefit of up to 250 euros on MyHome Insurance.

Your deductible is waived or reduced when your property suffers damage covered under MyHome Insurance due to fire, natural phenomena or theft and the compensation paid exceeds the deductible you have selected.

For example, if a bicycle worth 600 euros is stolen and your deductible is 250 euros, you pay no deductible thanks to the deductible benefit. In the same situation, if your deductible is 500 euros, you pay just 250 euros (500 – 250) thanks to the deductible benefit.

Product Protection Insurance gives six-month protection for credit and debit purchases made with a credit card. Free Product Protection Insurance is included in all owner-customer OP-Visa, OP-Visa Gold, OP-Visa Platinum and OP-Mastercard cards. The insurance is also valid for joint cards when the principal cardholder is an owner-customer.